Getty Images Acquires PicScout And Rival Photolibrary
May 3, 2011 /Photography News/ Getty Images today announced that it has acquired PicScout, a leader in identifying image use, metadata and licensing information on the web, and has entered into a definitive agreement to acquire Sydney-based Photolibrary, a leading provider of creative stills imagery.
The acquisition of PicScout will build and grow upon Getty Images’ existing range of products and services, enabling Getty Images to amplify its digital content licensing expertise and leverage PicScout’s technology in developing new image identification tools for customers. Getty Images will invest in PicScout’s technology and continue to work across the entire image industry, to improve and expand protection of Intellectual Property, thus ensuring a stronger overall content licensing industry.
Offir Gutelzon, co-founder and CEO of PicScout added, “With the vast expansion of digital devices and platforms, technology solutions are required to ensure every image gets its credit, which enables a connection to licensors wherever the images are used online. The acquisition will make it possible for PicScout to accelerate its position as a market innovator and as one of the world’s largest indexes of owner-identified images. It will allow PicScout to continue its rapid support of content owners and content users, who seek an integrated solution for image identification and use.”
The acquisition of Photolibrary is intended to benefit existing and potential customers, by making even more high quality and relevant imagery easily accessible to customers all over the world.
Photolibrary brings to Getty Images a broad range of versatile content, with regional as well as global appeal, including renowned collections such as Peter Arnold and Oxford Scientific. By combining both companies' imagery collections and strong relationships with valuable partners, the acquisition will provide customers around the world with greater choice and more easily accessible imagery. Photolibrary's content will be licensed through Getty Images' global distribution platform, which enables search in local languages and single image purchases in local currencies.
Additionally, Photolibrary's established presence in India, the Middle East and Southeast Asia will make it possible for Getty Images to expand its products and services to customers in those regions. Furthermore, the addition of Photolibrary's imagery collections will allow Getty Images to create new products and services, to better serve customers around the region and across the globe.
"As worldwide demand for imagery across multiple channels and platforms continues to increase, we are delighted to offer Photolibrary's content to our customers," said Jonathan Klein, Getty Images' co-founder and Chief Executive Officer. "The need for both local and global content remains strong across South East Asia, as the region continues to develop and grow. This acquisition will further enhance our ability to better serve customers in the region and around the world, with a greater choice of content."
Glenn Parker, Group CEO Photolibrary added: "This acquisition is a testament to Photolibrary's content and global presence. Getty Images will build upon our complementary geographic presence, expand the reach for Photolibrary imagery into new markets and improve the experience for our collective customers."